The Australian and New Zealand dollars hit, yet again, multi-year heights versus the yen on Tuesday as markets wagered massive monetary stimulus in Japan would lift demand for higher-yielding assets globally. The Aussie climbed to 103.81 yen, its highest since July 2008 and its fourth session of fresh peaks.
It is now up 6 full yen since the Bank of Japan (BoJ) announced its easing plans last Thursday. The kiwi jumped to a five-year high around 84.49 yen, up an impressive 20 percent since January 1. Charts showed little resistance until 88 yen. It was last at $1.0432, up from a $1.0348 trough overnight but still short of a 2-1/2-month peak of $1.0498 set last week. Against the greenback, the New Zealand dollar came within a whisker of $0.8500, last seen in mid-February, to last fetch $0.8490.